Oman’s CPI inflation speeded up to 1.53% y/y in April from 0.70% y/y the month before, on higher food and housing price growth, the statistics office said. Higher telecoms and education prices also lifted the CPI inflation in April despite government subsidies and price regulations. In monthly terms, the CPI rose 0.58% in April, quickening from a 0.1% rise the month before.
Food and beverages prices (23.9% of the index) fell 0.7% m/m on favourable seasonal factors but the annual growth ticked up to 2.54% y/y in April from 2.40% a month earlier mainly due to a low prior-year base.
Transport prices (19.2% of CPI) remained in the red, shrinking 0.6% y/y in April, despite narrowing from a 1.3% y/y drop the month before. Such prices remain anchored due to partial subsidies, which, however, weigh on the budget balance.
Housing charges (26.5% of the basket) rose 0.25% m/m, sending the annual increase to 1.65% y/y from 1.4% y/y in March, on rising rent amid strong local demand for housing.
UK renewable energy producer Xlinks, noting significant upward pressure on the cost of all energy projects, has warned that construction of the Morocco-UK Power Project could reach $27bn to $30bn, up ... more
The Moroccan government is in extensive talks to attract more electric vehicle (EV) battery manufacturers to support its growing automotive sector and meet soaring demand, industry and trade minister ... more
United Arab Emirates renewable energy company Masdar has partnered with Uzbekhydroenergo to evaluate the potential of national hydroelectric power storage projects. Masdar and Uzbekhydroenergo, a ... more